Tuesday, March 1, 2016

Post Budget Quotes

Mr B.K Soni, Chairman and Managing Director of Eco Recycling Limited

"This is one of the finest budget where the importance is given to circular economy by increasing the power of buying, in hands of the poorest of the poor farmers, other low income group and the increase in the opportunities for the employed and unemployed youth by having an access to the financial and other resources, thereby by creating more thrust will give E-Waste more boost to the industry, environment and employment"

"The Budget has brought down the customs duty on imports of brass scrap from 5% to 2.5%, which will help the brass scarp users for metal recycling. But the duties on imports of other categories of scrap such as steel scrap, stainless steel scrap, zinc scrap, lead scrap, aluminum scrap, copper scrap have not been reduced. For instance, Indian metal recycling industry imports 100% of its stainless steel scrap requirements and the industry was demanding to reduce the duty from the current rate of 2.5% to nil, which has not been considered. The Metal Recycling Industry could have received a major boost had the duties been rationalized, as these are vital raw material for secondary metal producers and are not available in India in required quantity."

Mr Pramoud Rao, Promoter Managing Director, Zicom Group

“The highlight of the budget was its special thrust on agriculture and measures taken to double the income of farmers. in this budget we can see a lot of focus on rural areas. The crop insurance scheme and other allocations shows the government’s tremendous thrust on improving farmers welfare. The linking of rural roads, 100% electrification by 2018 and a lift in farmers income are positive signs. I feel, even if you double the farmers income it would stand less than 20,000. It could have increased more. But whatever that has been announced for rural improvement should be welcome”.